Helen Ball looks at the key issues for trustees of defined contribution schemes.
Aegon is reducing or simplifying charges for over 600,000 contributing members of workplace schemes, according to its independent governance committee (IGC).
Defined benefit members are taking advantage of the flexibilities through a number of ways according to research.
Almost one in five members transferred out of their defined benefit (DB) scheme to use their freedoms after receiving advice according to Willis Towers Watson.
Early exit charges for members wanting to access their pot at age 55 will be capped at 5% according to Standard Life.
The Merchant Navy Officers Pension Fund has raised its funding level by 10% since 2012.
The number of transfers from defined benefit (DB) to defined contribution (DC) schemes has been lower than expected, according to the Financial Reporting Council (FRC).
The industry has serious questions about the lifetime ISA introduced in the Budget.
The government's Lifetime ISA will lead to mass confusion and could pave the way for a future move to the Pensions ISA, according to several people.
The government is to consult on introducing a Pension Advice Allowance to enable members to withdraw money from defined contribution (DC) pensions to fund financial advice.